Luxembourg posted a current account gap of EUR 725 million in the first quarter of 2019 compared to a EUR 2,369 million surplus in the corresponding period of the previous year. The services surplus rose to EUR 6,005 million from EUR 5,523 million a year earlier while the goods deficit narrowed to EUR 462 million from EUR 795 million. Meantime, the primary income deficit rose to EUR 4,760 million from EUR 2,255 million while the secondary income gap decreased to EUR 57 million from EUR 103 million in the same period a year ago. Current Account in Luxembourg averaged 629.86 EUR Million from 1995 until 2019, reaching an all time high of 3148.90 EUR Million in the third quarter of 2015 and a record low of -2073.70 EUR Million in the second quarter of 2015.
Current Account in Luxembourg is expected to be -400.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Luxembourg to stand at 1370.00 in 12 months time. In the long-term, the Luxembourg Current Account is projected to trend around 1400.00 EUR Million in 2020, according to our econometric models.